FAX: [1] (613) 238-5720

consulate(s) general: Calgary, Halifax, Montreal, Quebec, Toronto,
and Vancouver

Flag description: three vertical bands of red (hoist side), white
(double width, square), and red with a red maple leaf centered in
the white band

Canada Economy

Economy - overview: As an affluent, high-tech industrial society,
Canada today closely resembles the US in its market-oriented
economic system, pattern of production, and high living standards.
Since World War II, the impressive growth of the manufacturing,
mining, and service sectors has transformed the nation from a
largely rural economy into one primarily industrial and urban. Real
rates of growth have averaged nearly 3.0% since 1993. Unemployment
is falling and government budget surpluses are being partially
devoted to reducing the large public sector debt. The 1989 US-Canada
Free Trade Agreement (FTA) and 1994 North American Free Trade
Agreement (NAFTA) (which included Mexico) have touched off a
dramatic increase in trade and economic integration with the US.
With its great natural resources, skilled labor force, and modern
capital plant Canada enjoys solid economic prospects. Two shadows
loom, the first being the continuing constitutional impasse between
English- and French-speaking areas, which has been raising the
possibility of a split in the federation. Another long-term concern
is the flow south to the US of professional persons lured by higher
pay, lower taxes, and the immense high-tech infrastructure.

GDP: purchasing power parity - $774.7 billion (2000 est.)

GDP - real growth rate: 4.3% (2000 est.)

GDP - per capita: purchasing power parity - $24,800 (2000 est.)

GDP - composition by sector: agriculture: 3%

industry: 31%

services: 66% (2000 est.)

Population below poverty line: NA%

Household income or consumption by percentage share: lowest 10%:
2.8%

highest 10%: 23.8% (1994)

Inflation rate (consumer prices): 2.6% (2000)

Labor force: 16.1 million (2000)

Labor force - by occupation: services 74%, manufacturing 15%,
construction 5%, agriculture 3%, other 3% (2000)

Unemployment rate: 6.8% (2000 est.)

Budget: revenues: $126.1 billion

expenditures: $125.3 billion, including capital expenditures of
$14.8 billion (2000)

Industries: processed and unprocessed minerals, food products, wood
and paper products, transportation equipment, chemicals, fish
products, petroleum and natural gas

Indust